Page 81 - GLOBAL STRATEGIC MARKETING

2 Strategic Marketing Process

Learning Outcomes

By the end of this unit you should be able to:

• Explain the interface between corporate and marketing strategy

• Describe the strategic marketing process

• Explain key theoretical concepts that underpin the marketing
planning process

• Understand the different levels of strategy

• Understand the differences between strategic, tactical and
contingency plans.

2.1 Introduction

This unit discusses the relationship between corporate and marketing
strategy. Corporate strategy is defined and its relationship with marketing

strategy is explained. Corporate planners are concerned with issues such
as portfolio planning, allocation of resources and defining mission
statements. They are also responsible for setting corporate objectives,

which underpin marketing objectives and strategy to meet the needs of
consumers. The strategic marketing process is discussed in more detail

and it is shown how this process is linked to the marketing plan; a written
down document that takes into consideration the above strategic process.
Finally, barriers to planning are identified.